What are the banking settlement periods set to for the Bank Recon Report?

Each bank has differing settlement periods and hence the MyGate Bank Recon report may be slightly out depending on the time the Bank pays the daily settlement batch to your business bank account. We align our Bank Recon Report for each of the banks respective 24 hour settlement time frames:

ABSA 21H00 – 21H00

Standard Bank 22H00 – 22H00

FNB 01H45 – 01H45

Nedbank 21H00 – 21H00

Please Note: To get an accurate report on what was settled daily you can request a mark-off or settlement file from your merchant bank directly.